Cyber Liability

Cyber liability insurance covers the cost for a business to recover from a data breach, virus, or other cyber attack. It also covers legal claims resulting from such breach. Any business that stores sensitive data in the cloud or on an electronic device should have cyber liability insurance. Most Cyber Insurers offer two kinds of insurance - First Party Coverage like cost of notifying employees/public, repairing any damaged software or hardware, business interruption costs, loss of income during business interruptions, protecting company's regulation with a marketing and public relations response etc.; Third Party Coverage helps company defend against lawsuits and legal claims, fines from regulator bodies, media liability claims etc.